April 18, 2024

S&P 500 & NASDAQ 100 / Elliott Wave Update 4/18/2024 by Michael Filighera

Thursday’s trade saw the Put Wall over in the SPX get challenged several times — all attempts did not succeed with the SPX and in turn the ES climbing up and away from the “danger zone” — The NQ caught a serious spike lower and then higher after NFLX earnings after the bell — the stock ended up lower after earnings and that in turn is pulling the NQ down — I also discuss the various scenarios for the markets – and show my preferred count and Sascha’s preferred count  which are very similar and both find support around the same Fib levels — Tomorrow is a monthly expiration and again the SPX put wall remains active as far as I can tell — there isn’t any economic data due out tomorrow.